OPERATIONS

Walmart expands check, card cashing services

BY Marianne Wilson

Bentonville, Ark. — Walmart announced on Monday that it is expanding its check and card cashing services to accept more types of checks and take more forms of identification from shoppers.

The expansion includes cashing most types of pre-printed checks up to $5,000 and accepting more forms of ID for check cashing, as well as establishing exclusive “Express Check Cashing” check-out lanes at selected stores during peak hours. The chain, which already accepts driver’s licenses, military IDs and tribal IDs, will now also accept state IDs and U.S. passports as identification for check cashing.

Walmart, which already cashes payroll, government and tax refund checks for customers, will now also accept student loan, insurance and pension checks up to $5,000, among other kinds of checks. Customers will be also able to cash payroll cards and some government benefit cards at Wal-Mart’s stores.

In addition, customers will now be able to cash payroll cards and eligible government benefit cards down to the penny.

"We know more and more of our customers have a need to cash these kinds of cards, and it’s important that they’re able to gain access to all their cash," said Daniel Eckert, head of Walmart Financial Services. Eckert. "We’re excited to be the first major retailer to make it possible to cash these types of cards to the penny and give every cent to the customer, instead of in $10 or $20 increments."

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FINANCE

McDonald’s sales up 5.1% in July

BY Staff Writer

Oakbrook, Ill. — McDonald’s Corp. said Monday that its global same-store sales climbed 5.1% in July, buoyed by ongoing strength abroad and sales of its McCafe beverage and staples such as Chicken McNuggets.

By segment, same-store sales rose 5.3% in Europe. The Asia/Pacific, Middle East and Africa experienced a 4% gain, while the United States posted a 4.4% increase.

Last month McDonald’s reported a 15% increase in second-quarter net income as it continued to entice customers to buy new menu items.

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News

American Apparel expands agreement with U.K. website ASOS

BY Staff Writer

Los Angeles — American Apparel announced the extension of its partnership with ASOS. The U.K.-based fashion site, which has more than 3.7 million members, has expanded its buy of American Apparel products based on a 100% sell-through rate of a test buy earlier this year.

The product categories currently offered are men’s, women’s, swim and accessories, though footwear will be added in 2012. Inventory is purchased directly by ASOS through American Apparel’s wholesale business, and is then displayed and marketed through ASOS’s unique and highly successful platform.

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